Manchester Council's Executive Member for Housing Councillor Paul Andrews has requested an urgent meeting with Housing Minister Grant Shapps MP to seek assurances on the Collyhurst Private Finance Initiative.
The Council had gained an indicative commitment from the previous government for £252 million of PFI credits - which would make it the largest housing PFI project in the country.
The regeneration scheme is aimed at increasing the population of the Collyhurst area, which takes in parts of Cheetham, Harpurhey and Miles Platting and Newton Heath wards, by creating development opportunities for homes for sale alongside new and refurbished council homes.
Through high quality design and first class services, it is also intended to create a positive identity and sense of place for the area.
Mr Andrews said: "It's no exaggeration to say that this scheme would make a massive difference to the future of the Collyhurst area. We're keen to have dialogue with the government as soon as possible with a view to securing this investment which has the potential to secure jobs and training for local people and to transform the area for the better."
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